Stonewater consults on 1,600-home stock transfer

Jonathan Layzell, chief executive of Stonewater, said: “This proposal builds on an already successful partnership with Mount Green and is about making sure customers continue to have safe, secure homes backed by a strong and financially resilient organisation.

“If approved, it would allow us to bring these homes into Stonewater’s direct ownership while keeping the local, customer-focused service that residents value.”

The landlord believes the proposed transfer would enable it to “continue to build on Mount Green’s long history of working closely with customers, while providing the strength, stability and efficiencies of a larger organisation”.

Any transfer would be subject to customer consultation and would be undertaken in line with the Co-operative and Community Benefit Societies Act 2014 as a permitted reorganisation under the bonds.

Customers will also continue to have access to grants provided by Longleigh, the charitable foundation that supports Stonewater customers.

This is the latest deal announced by Stonewater, after it completed the acquisition of two small landlords based in Brighton and Hove in April. 

The completed transfer will see 97 homes from Porthove Housing Association and The Rotary Club of Hove Community Housing Society added to Stonewater’s existing 40,000-home portfolio.

The transfer of engagements, completed today, was originally supposed to complete by the end of 2025, but was delayed in December.

Leicester-based Stonewater announced in June that the two smaller landlords would be joining as subsidiaries.